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there is drags on the economy and we'll need more taxes to close the gaps. companies would like taxes to be low but also don'tment -- don't want to collapse the economy. theymentment economy to grow and not go broke and some mix of spending cuts and tax increases will hopefully lead us down the path but not the japan path. i don't know which plan is better. they are both magic in my opinion. one wants taxes raised and the other want to lower it twitch percent like that is going to balance the budget. i don't know which one is working. >> johnathon, you took a hike up a big mountain, should taxings go up? >> no, they shouldn't unless they are paying off the debt. we are raising a trillion in taxes according to the democratic proposal. you are only raising taxes to raise spending also. you are not paying off the deficit. governor scott and perry, come to these states where you don't have to pay a state income tax. that's what businesses want. this democratic budget is the biggest joke i have ever seen. 10 years from now. you are still running a trillion dollar
there is drags on the economy and we'll need more taxes to close the gaps. companies would like taxes to be low but also don'tment -- don't want to collapse the economy. theymentment economy to grow and not go broke and some mix of spending cuts and tax increases will hopefully lead us down the path but not the japan path. i don't know which plan is better. they are both magic in my opinion. one wants taxes raised and the other want to lower it twitch percent like that is going to balance the...
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Mar 21, 2013
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it's largely a function of the private economy. it's largely a function of the private economy. and it's a cycle that's very well understood. someone has a really good idea for a business, a new business, or growing their existing business. they somehow get access to money, whether it's their own money or money they borrowed or money someone invests through them, and they open this business. there's no guarantee that that business is going to work out. but they are willing to risk it. and the idea works. and all of a sudden this business that they started all by themselves out of the spare bedroom of their home, they now have five employees. and five employees isn't just a number. that's five families that are taking home a paycheck. those are five providers -- mothers or fathers -- that are bringing home opportunities to their children. this is how prosperity is created. this is how every one of us has ever gotten a job or how our parents got their jobs, or -- either because they or someone else risked it and created a business opportunity that provides them a job. this is how
it's largely a function of the private economy. it's largely a function of the private economy. and it's a cycle that's very well understood. someone has a really good idea for a business, a new business, or growing their existing business. they somehow get access to money, whether it's their own money or money they borrowed or money someone invests through them, and they open this business. there's no guarantee that that business is going to work out. but they are willing to risk it. and the...
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Mar 21, 2013
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between those following the accident- that there are still downside to the economy. do you think that policy has made the right move today? >> i think so. i think, in general, the moves that we've seen over the past six months have been quite helpful. the further move in the direction of trying to get the economy back onto a stronger trajectory for the labor market, more rapid labor market improvement and i think the message from what they did today is, you know, for the time being, stay the course. of course, he's not willing to commit what, you know, what's going to happen in the future as far as the quantity of easing programs are concerned. guns, there's still quite a lot of uncertainty about how long that's going to continue for. but our expectation is that it's still going to continue through this year and then will wind down in 2014. but, yeah, we do expect to support the federal reserve. >> and that, yon, is what i wanted to ask you about. did you divine any hints in the press conference or the statement today about when the federal reserve might take its foo
between those following the accident- that there are still downside to the economy. do you think that policy has made the right move today? >> i think so. i think, in general, the moves that we've seen over the past six months have been quite helpful. the further move in the direction of trying to get the economy back onto a stronger trajectory for the labor market, more rapid labor market improvement and i think the message from what they did today is, you know, for the time being, stay...
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Mar 20, 2013
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and growing the economy. we have to -- 30% of our deficit right now as we look at this going forward is in the slow economic recovery. and so we want these numbers, when we know it was really bad prior to 2009 when president obama was elected, if -- it's gotten better, but it's not where it needs to be. and it won't be where it needs to be unless we invest in innovation, in education, and rebuilding america's infrastructure. that's what we do. this budget makes sense. this budget is for middle-class families all across america. and i would urge my colleagues to support it. mr. sessions: mr. president? the presiding officer: the senator from alabama. mr. sessions: i appreciate the opportunity to be with our colleague, senator stabenow, who serves on the budget committee. what i would like to do just briefly -- and i will he yield to senator roberts -- is that president obama on march 13 of this year said "and so you know my goal is not to chase a balanced budget for the sake of balance." my goal is not to chas
and growing the economy. we have to -- 30% of our deficit right now as we look at this going forward is in the slow economic recovery. and so we want these numbers, when we know it was really bad prior to 2009 when president obama was elected, if -- it's gotten better, but it's not where it needs to be. and it won't be where it needs to be unless we invest in innovation, in education, and rebuilding america's infrastructure. that's what we do. this budget makes sense. this budget is for...
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it also would create some savings to create the capital basis for a capitalist economy but policymakers seem to believe that wage earners are not important anymore and they seem to believe that simply training security is back and forth between banks and generating phase that's all we need in an inner economy your thoughts well i agree with you that seems to be when they think is the case and they are proud of what they think is that. jobs can be created out of nothing that you know we can just each other's hair much more often but of course leave a neat scissors for that and then we probably need to have a way of transportation back and forth to go to the hairdresser. and in real terms what happens is not at all like once in their models we really need. well and other energy resources we need she well another energy resources in order to make our current economic model work ok now you mention a concept peak wages so this would fit into what you're talking about here but i wanted you to expand on that a little bit tell us about your thoughts on peak wages. well we look at the wage situa
it also would create some savings to create the capital basis for a capitalist economy but policymakers seem to believe that wage earners are not important anymore and they seem to believe that simply training security is back and forth between banks and generating phase that's all we need in an inner economy your thoughts well i agree with you that seems to be when they think is the case and they are proud of what they think is that. jobs can be created out of nothing that you know we can just...
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Mar 19, 2013
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economy? >> it certainly would have come up, i think, if some analogies with iceland from a number of years ago. even a smaller country, only 250,000 people, not aillion people, but it was something that we focused on. we worried about and tried to think of what the implications are. here it's clear the europeans have made i think a terrible mistake in making this proposal. that potentially could undermine confidence, and that could have knock-on effects not only for the whole financial system in europe but potentially for the u.s. >> randy, one thing that everyone wants to know at this point is how healthy or unhealthy is the u.s. economy? how far off are we from full health? >> alas i think we're pretty far om fl health. we've seen some green shoots in the spring. actually as we've seen in 2010 and 2011, with a little bit more job growth, a little bit more retail consumption. more stabilization of the housing market but we still have these big risks. the fiscal follies in the u.s. are not an
economy? >> it certainly would have come up, i think, if some analogies with iceland from a number of years ago. even a smaller country, only 250,000 people, not aillion people, but it was something that we focused on. we worried about and tried to think of what the implications are. here it's clear the europeans have made i think a terrible mistake in making this proposal. that potentially could undermine confidence, and that could have knock-on effects not only for the whole financial...
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find out what's really happening to the global economy with mike stronger no holds barred look at the global financial headlines kaiser reports on our. mission. critical you should treat in store charges free. range month free. three stooges free. old free broadcast live video for your media projects a free media. welcome back you're watching our team now breathing new life into a stalled middle east peace process is the order of the day in moscow where bloody meter putin is meeting his palestinian can't of blood mahmoud a bus he's on his first official visit to russia becoming president of the palestinian state in the wake of a u.n. vote last yeah it is the meeting this is mahmoud abbas his first visit to moscow since last november the united nations general assembly voted to offer a the status of palestine to that of a nonmember observer state the move of sensually recognized palestine's right for statehood and has widely been considered as part of the basis for a permanent peace settlement and of course this is going to be one of the major issues to be discussed between the palesti
find out what's really happening to the global economy with mike stronger no holds barred look at the global financial headlines kaiser reports on our. mission. critical you should treat in store charges free. range month free. three stooges free. old free broadcast live video for your media projects a free media. welcome back you're watching our team now breathing new life into a stalled middle east peace process is the order of the day in moscow where bloody meter putin is meeting his...
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economy. jamie diamond i'm going to destroy your love tapeworms can grow up to ten feet in this case jamie dimon i think is only about i thought seven. votes you know bob his weight is a tape worm. farms also from this genetic decoding of their d.n.a. they found that they're actually remarkably similar to a cancer so again that's a very apt comparison to make jamie dimon to the tapeworm absolutely you know that was a gift to bear stearns and he's been marauding his way through the too big to fail landscape becoming even bigger to bigger to fail even less bigger big big in eric holder and shaking interest desk it's disgusting we're going to move on to this next headline because it talks exactly about that how too big to jail has become and his influence over the political class leaman creditors can question london well says judge a bankruptcy judge gave creditors of lehman brothers the green light to subpoena former j.p. morgan trader bruno extolled the so-called london whale in an eight point
economy. jamie diamond i'm going to destroy your love tapeworms can grow up to ten feet in this case jamie dimon i think is only about i thought seven. votes you know bob his weight is a tape worm. farms also from this genetic decoding of their d.n.a. they found that they're actually remarkably similar to a cancer so again that's a very apt comparison to make jamie dimon to the tapeworm absolutely you know that was a gift to bear stearns and he's been marauding his way through the too big to...
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debt the mortgage and credit card debt held by every bit every day americans are a real drag on the economy for tonight's conversations the great minds i'm joined by steve keen steve is a professor of economics and finance at the university of western city us in sydney australia and a world renowned authority on a wide range of macro economic issues debt financial instability in monetary theory a frequent critic of mainstream economists who predicted the financial collapse of two thousand and eight received the revere award from the real world economics reviews for his cutting analysis of contemporary economic trends present keen's book economics now revise an expanded edition of the naked emperor dethroned is a must read for anyone interested in learning about how we got into our current financial mess steve welcome a lot of the vehicle and thanks for joining us you could associated your name has been associated with modern monetary or modern money theory tell me about that in your association ok to see you nodding thing about my approach and modern monetary theory which we both believe th
debt the mortgage and credit card debt held by every bit every day americans are a real drag on the economy for tonight's conversations the great minds i'm joined by steve keen steve is a professor of economics and finance at the university of western city us in sydney australia and a world renowned authority on a wide range of macro economic issues debt financial instability in monetary theory a frequent critic of mainstream economists who predicted the financial collapse of two thousand and...
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economy with other economies around the world but there is no economy in palestine they say for example that the economic structure of palestinian of the economy the structure of the palestinian economy has drastically deteriorated since one thousand nine hundred ninety four now keep in mind the year nineteen ninety four that's when the so-called peace process began the oslo accord was signed in september one thousand nine hundred ninety three so from the very beginning the very inception you might say the first day of the peace process until today the world bank says the manufacturing sector of the palestinian economy has drastically the theory or raided the agricultural sector has drastically deteriorated so what has improved will they say the public sector has improved what is the public sector the public sector or simply handouts from the international community. and the public sector in this past year the biggest growth was in security that is to say the palestinian authority hired more torturers this year than any year in the past that's the palestinian a condom known i'm going to
economy with other economies around the world but there is no economy in palestine they say for example that the economic structure of palestinian of the economy the structure of the palestinian economy has drastically deteriorated since one thousand nine hundred ninety four now keep in mind the year nineteen ninety four that's when the so-called peace process began the oslo accord was signed in september one thousand nine hundred ninety three so from the very beginning the very inception you...
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last quarter the economy grew by a hair. unemployment is 7.7%. 46 million people are living in poverty today in america. the president says we are in a recovery. i say we are in critical care. look at where we are going. further down the road things that are worse. by the end of 2023, the economy will be at a crawl. we will have $8 trillion in our debt. the devil way down the the country like an anchor. in short, we are on the verge of a debt crisis. our obligations are growing faster than our ability to pay them. our debt is already bigger than our economy. at some point, lenders will lose confidence and demand higher interest rates. when they do, interest rates across the country will sky rocket mortgages, car loans and then pressed for cash, the government will take the easy way out. it will crank up the printing presses. the dollar is sinking finances collapse. the safety that would unravel. the most vulnerable would suffer the most. the debt crisis would be more than an economic event. it would be a moral failure. you s
last quarter the economy grew by a hair. unemployment is 7.7%. 46 million people are living in poverty today in america. the president says we are in a recovery. i say we are in critical care. look at where we are going. further down the road things that are worse. by the end of 2023, the economy will be at a crawl. we will have $8 trillion in our debt. the devil way down the the country like an anchor. in short, we are on the verge of a debt crisis. our obligations are growing faster than our...
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Mar 18, 2013
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we'll be right back and talk about the economy. stay with us. alan krueger is here, he's chairman of the whitehouse council of economic advisors. today he presented the economic report of the president. this is what it looks like. the report found that while much work remains, the economy's healing and moving in the right direction and it could create newed head winds. the sequester was signed in law in march 1st full effect is remain to be seen. all eyes on washington. i'm pleased to have alan krueger back at this table. welcome. >> my pleasure. >> rose: what's the essence of this which is sort of like asking moses of the ten commandments which are the important two. give me the essence of what you discover and you want the american public to know. >> you touched on it. the u.s. economy went through a traumatic period. financial crises was extraordinarily deep. we lost $16 trillion in wealth. but we are digging our way out of this problem. we've regained now almost 15 trillion of the lost wealth. over the last 36 months we've added private sect
we'll be right back and talk about the economy. stay with us. alan krueger is here, he's chairman of the whitehouse council of economic advisors. today he presented the economic report of the president. this is what it looks like. the report found that while much work remains, the economy's healing and moving in the right direction and it could create newed head winds. the sequester was signed in law in march 1st full effect is remain to be seen. all eyes on washington. i'm pleased to have alan...
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Mar 21, 2013
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about the economy. that is not happening right now. stuart: middle america senses something is wrong, we have spent a ton of money, deeper in debt. >> the other thing they understand is you have this anomaly. the stock market is hitting record, yet the average person thinks they have money in a 401(k), that is great. but the other thing is they invest in a cd. there is nowhere to do normal savings right now because saving rates are close to zero. all this money being forced into the stock market, people are worried about how real those numbers are. stuart: you're very much in touch with the political reaction going on in the economy. but there is no political reaction to middle america about what is going on here. president obama is still relatively popular, his policies are still relatively popular. >> his handling of the economy have dropped precipitously. he is now basically dead even with the republicans handling of the economy, so i think the president should be more worried about it than he is. re
about the economy. that is not happening right now. stuart: middle america senses something is wrong, we have spent a ton of money, deeper in debt. >> the other thing they understand is you have this anomaly. the stock market is hitting record, yet the average person thinks they have money in a 401(k), that is great. but the other thing is they invest in a cd. there is nowhere to do normal savings right now because saving rates are close to zero. all this money being forced into the stock...
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Mar 21, 2013
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he said the chancellor is sucking the confidence out of the economy. the financial markets seemed e prerelaxed with what we heard yesterday. >> i think the potential markets have factored in now for very many months. the economy here in the uk is flat. it's flat lined. there's no growth. our deficit has been expected to stay high now for many months. the chancellor confirmed yesterday what we've all known for a long time. the national debt is rising year on year. the borrowing is not coming down. britain was an experiment two years ago in rapid austerity. i think the markets here know what the country here in britain knows, it's failed. >> they did come out saying business applauded measures yesterday, which i'm sure he would also applaud. 32 pounds of national insurance. that's going to help job creation, cutting corporate tax rates again. infrastructure spending, he's done that, as well. there are very business friendly measures here and it's the private sector, after all, that's going to get the growth going in this country. >> look, the small busin
he said the chancellor is sucking the confidence out of the economy. the financial markets seemed e prerelaxed with what we heard yesterday. >> i think the potential markets have factored in now for very many months. the economy here in the uk is flat. it's flat lined. there's no growth. our deficit has been expected to stay high now for many months. the chancellor confirmed yesterday what we've all known for a long time. the national debt is rising year on year. the borrowing is not...
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Mar 19, 2013
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what does it mean for the economy? the human toll is devastating and makes us all shudder to see the pictures. this is a show about "money". we want to make sure we discuss that. what does decivilization mean for the economies of the region? >> well, because you have sort of the shia-sunni axis splitting right in the middle of syria you will see the arab sunni states, the gulf states getting involved. they may find the destabilization prevents transport of oil like it used to. they jack up prices to get world attention and also because maybe they will have to as the region becomes destablized with iraq and iran involved. so at the end of the day i think you're going to see, your segment with boone pickens was so right on the money, we have to find alternative. if there is any message not only to get involved, i pray that the obama administration realizes we need a no-fly zone. we need to arm the rebels about. this is not exact science what to do there. we need to take sides. the darwin one evolution what is happening i
what does it mean for the economy? the human toll is devastating and makes us all shudder to see the pictures. this is a show about "money". we want to make sure we discuss that. what does decivilization mean for the economies of the region? >> well, because you have sort of the shia-sunni axis splitting right in the middle of syria you will see the arab sunni states, the gulf states getting involved. they may find the destabilization prevents transport of oil like it used to....
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Mar 21, 2013
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economy. caterpillar, oracle, not just u.s. economy, but the global economy. europe is very, very weak. was going to happen in emerging markets, china, i think is questionable. so i just think there's a lot of question marks out there and the market is not pricing that in right now. >> no. that's a really good point. scott, i guess the federal reserve sees a lot of those question marks, too. they made the point that they don't want to get into a situation where they pullback too quickly because they don't want to see something that's unsustainable gains in the labor market. i guess that's the good news if anybody is waiting for anything is that the fed is still standing by. >> i think what the fed had to say is essentially bullish for everything in the world except for change. because they don't seem like they want to make any changes except for the news that mr. bernanke has now had a conversation with the president about his tenure. and it seems more likely than ever that his term will come to an end in january. unfortunately, it's going no be just about the
economy. caterpillar, oracle, not just u.s. economy, but the global economy. europe is very, very weak. was going to happen in emerging markets, china, i think is questionable. so i just think there's a lot of question marks out there and the market is not pricing that in right now. >> no. that's a really good point. scott, i guess the federal reserve sees a lot of those question marks, too. they made the point that they don't want to get into a situation where they pullback too quickly...
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street are they one of the most responsible for an economy. yeah i mean they're not really doing this as a percentage they're not really doing their job properly until intermediation so when people are on food stamps you can point to jamie dimon and j.p. morgan by the way who's the biggest player in food stamps i don't know jamie jamie dimon j.p. morgan all right so they're not they've got a dog in that race as well not only are they defrauding the public but they're putting out food stamps and taking a cut on the breadline busy to vertically integrated fraudster. i don't work there colder on this he says he can't go after him because he's hiding under his desk right and he said they jamie might not get me a christmas card with your but i think that says everything the fact that we have institutions that control and are treated differently and we bedded that in by calling these companies different they are systemically important right the other seven thousand banks to try and earn an honest living in this country they're not important but who
street are they one of the most responsible for an economy. yeah i mean they're not really doing this as a percentage they're not really doing their job properly until intermediation so when people are on food stamps you can point to jamie dimon and j.p. morgan by the way who's the biggest player in food stamps i don't know jamie jamie dimon j.p. morgan all right so they're not they've got a dog in that race as well not only are they defrauding the public but they're putting out food stamps and...
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Mar 15, 2013
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economy. >> we had a couple of huge risks hanging over the global economy for the last year. china had the hard landing, the euro break-up, would america fall over its fiscal cliff. none of those things happened. >> reporter: but several good things have happened including more signs today of a turnaround in the labor market. the number of people claiming initial jobless claims falling last week to a lower-than-expected 332,000. that following last friday's february employment report which showed the unemployment rate fell to its lowest level since 2008. but while the outlook on jobs is improving, inflation is putting more pressure on u.s. businesses. producer prices or the cost of businesses to manufacture goods rose again in february, climbing nearly 1.7% in just the past year. pushed higher by rising gas prices. at the same time, the u.s. dollar has shown some relative strength, up 4% in just the past two months against the other major currencies. while a stronger dollar sounds great, it can hurt american business making u.s. exports more expensive to foreign buyers. >> to
economy. >> we had a couple of huge risks hanging over the global economy for the last year. china had the hard landing, the euro break-up, would america fall over its fiscal cliff. none of those things happened. >> reporter: but several good things have happened including more signs today of a turnaround in the labor market. the number of people claiming initial jobless claims falling last week to a lower-than-expected 332,000. that following last friday's february employment...
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economy. u.s. gdp. now it is about 9%. do you think that shift is beneficial to the u.s. economy? >> i don't think i know the answer to that question. certainly the financial system, i could argue in two ways, so the u.s. economy grew pretty well between 1945-1975, 1980. the financial system was much simpler and didn't have a lot of exotic rigors and so on. so that would be one way to argue maybe all this extra financial activity is not justified. on the other hand the world is a lot more concentrated, lots more international, large multinationals that are connecting resources, investors and other countries, there's a lot more demand, so i think based on that and based on the innovations and information technology in a lot of industries you would expect financial services to be somewhat bigger. so i don't really know the answer to that question. my predecessor paul volcker explained the only contribution financial industry is the automatic teller machine. i don't know the answer. a much bigger sector can be defined by the wider range of services globalized financial economic syste
economy. u.s. gdp. now it is about 9%. do you think that shift is beneficial to the u.s. economy? >> i don't think i know the answer to that question. certainly the financial system, i could argue in two ways, so the u.s. economy grew pretty well between 1945-1975, 1980. the financial system was much simpler and didn't have a lot of exotic rigors and so on. so that would be one way to argue maybe all this extra financial activity is not justified. on the other hand the world is a lot more...
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where the chinese currency appreciates and you have a tremendous a local domestic economy spenders in china who are buying the things that they've been manufacturing because they can afford it because their currency suddenly appreciated remember the u.s. dollar as a percentage of world trade as steadily decrease every quarter of every year for the past twenty years and this trend is now getting to the point where as a percentage of global trade the u.s. dollar will dip below fifty percent at that point you can categorically state that the u.s. dollar is no longer the world reserve currency and are rapidly approaching that key number so again here we see a situation where china might have to internationalize let it float suddenly ok that's one thing so in the background that would mean they must be looking at a way to accumulate gold more rapidly if they think that's the situation on the international stage look at this next. headline currency war is central banks in denial or lying and this is from our friend a ponzi planet dot com it's fire stein and he says a large consumer products
where the chinese currency appreciates and you have a tremendous a local domestic economy spenders in china who are buying the things that they've been manufacturing because they can afford it because their currency suddenly appreciated remember the u.s. dollar as a percentage of world trade as steadily decrease every quarter of every year for the past twenty years and this trend is now getting to the point where as a percentage of global trade the u.s. dollar will dip below fifty percent at...
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Mar 13, 2013
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, on the economy altogether. obamacare includes more than 20 tax increases. the joint committee on taxation estimates that over the next ten years obamacare will raise $1 trillion in taxes. that's $1 trillion from the private sector that's not going to be available to use -- be used to hire new workers. job losses, just in the medical device industry, as a result of the medical device excise tax could total as much as $47,100 or 10% of the medical device industry employment. those job losses are not needed -- those job losses are not driven by market conditions. those job losses are driven by one thing, which is the policy decisions of the federal government to implement obamacare. on march 5, 2013, russell george the inspector general for the i.r.s., testified to the house committee a eption pros. "it is unprecedenced in recent history the amount of responsibility the i.r.s. is being given in an area that most people don't think of as an i.r.s. function." he went on, "this is going to lead to problems." the cong
, on the economy altogether. obamacare includes more than 20 tax increases. the joint committee on taxation estimates that over the next ten years obamacare will raise $1 trillion in taxes. that's $1 trillion from the private sector that's not going to be available to use -- be used to hire new workers. job losses, just in the medical device industry, as a result of the medical device excise tax could total as much as $47,100 or 10% of the medical device industry employment. those job losses...
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economy. and i thank you once again, my good friend from california, for making all the important points this evening. mr. garamendi: washington, d.c., your leadership in this community has been known for some time and i thank you very much for joining us tonight. i want to do two things before i end. first of all, medicare is back on the table. the ryan budget takes up medicare once again and provides a voucher that will destroy it. i'm going to change this. medicare, 1965, president 2013, created by l.b.j., destroyed by the g.o.p. i don't think so. seniors don't want it. americans don't want it. the last campaign for presidency, this was one of the major issues and ryan is coming back with it. bad idea, bad timing. and i want to end with this, this is a great country. there is no other place in the world like the united states. it is one terrific country. there is enormous energy in this country, where people want to get a job and go to work and businesses want to grow and hire people. all o
economy. and i thank you once again, my good friend from california, for making all the important points this evening. mr. garamendi: washington, d.c., your leadership in this community has been known for some time and i thank you very much for joining us tonight. i want to do two things before i end. first of all, medicare is back on the table. the ryan budget takes up medicare once again and provides a voucher that will destroy it. i'm going to change this. medicare, 1965, president 2013,...
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Mar 14, 2013
03/13
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danny the economy moving again. getting our debt crisis under control so we may preserve the american dream. these are precisely the priorities that are incorporated in our house republican budget. american families know the federal of rigid federal government should not be spending more than it has. the budgets that have been proposed by the president in the past have never gotten a balance. -- gotten to balance. the president missed the legal deadline of february 4 to send in a budget. past experience tells us when he gets around to it, it will likely not balance, either. american families cannot live this way and neither should the federal government. democrats have not adopted a budget in four years. they will do one this year because of the no budget, and no pay bill. we look for to see in that budget. the test is to see whether or not they can pass that budget out of their own committee and chamber. we're which it will enough democrats be willing to endorse a plan with more so washington can spend more? that i
danny the economy moving again. getting our debt crisis under control so we may preserve the american dream. these are precisely the priorities that are incorporated in our house republican budget. american families know the federal of rigid federal government should not be spending more than it has. the budgets that have been proposed by the president in the past have never gotten a balance. -- gotten to balance. the president missed the legal deadline of february 4 to send in a budget. past...
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credit card payment i doubt it now but actually know what going to get is the growth of a cash economy amongst. small shopkeepers and so on but the really big thing is the large corporations who have deposits they very large deposits often turned over on or on a week or even daily basis but still maintain large deposits of banks for source of cash payments including payroll payments what are they going to where they can put their money because they're going to get here. that doesn't apply just to cyprus that applies all across the board if i was a saver. in any of these countries yes i would be worried because i wouldn't know i would be certain what happens and to be honest the reassurances that this is unique what has been lost so unique event happened in this course of this crisis and you know what the end of the of the do we need to become routine matthew that's a very interesting routine it's been done the president has made sure absolutely i think. but there is no question that the cypriot banking system right just because of its liability structure is unique in that sense whether
credit card payment i doubt it now but actually know what going to get is the growth of a cash economy amongst. small shopkeepers and so on but the really big thing is the large corporations who have deposits they very large deposits often turned over on or on a week or even daily basis but still maintain large deposits of banks for source of cash payments including payroll payments what are they going to where they can put their money because they're going to get here. that doesn't apply just...
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Mar 21, 2013
03/13
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for the economy. but to get devote, my senior senator and friend has asked me about the sequester in virginia. and, mr. president, as some of you might know, i took the floor for my maiden speech on this topic last month a little bit earlier than i would have wished to have talked as a freshman senator but with the specter of sequester having such a significant effect on the commonwealth of virginia, i -- i just felt like i couldn't be silent about it. and i have a senate colleague here from hawaii, senator hirono, who i know feels equally strongly about this issue. i took a tour throughout virginia in the middle of february that was designed before sequester was looming to talk to people who were affected about especially in the armed services area and he heard their stories, senator -- and i heard their stories, senator warner, about sequester and the anxieties and threats that it posed. beginning in early april, 90,000 -- 90,000 -- civilian d.o.d. employees will start to be furloughed, just in the
for the economy. but to get devote, my senior senator and friend has asked me about the sequester in virginia. and, mr. president, as some of you might know, i took the floor for my maiden speech on this topic last month a little bit earlier than i would have wished to have talked as a freshman senator but with the specter of sequester having such a significant effect on the commonwealth of virginia, i -- i just felt like i couldn't be silent about it. and i have a senate colleague here from...
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this could send the already fragile european economy into chaos the bail out levy is unjust shortsighted and dangerous cypriots for should fight tooth and nail against it they should not have to suffer for crimes they did not commit this is obvious to me as should be obvious to you so why did the e.u. come up with such a foolish plan and what are its broader ramifications for the european and global economies let's ask richard wright esko senior fellow at the campaign for america's future richard walker. thanks tom good to be back thanks for joining us the e.u. and the i.m.f. are mandating levies of nine point nine and six point seven five percent on these separate bank accounts as part of their bailout deal. what genius came up with this stupid idea. you know we don't know exactly who came up with it but we know that this is what this was what the troika want a trike of being in the european union and the i.m.f. basically. but here is you know one glimpse into the mind set behind it well and that was really disturbing was a mom. you know it was that had a pimco very well connected in th
this could send the already fragile european economy into chaos the bail out levy is unjust shortsighted and dangerous cypriots for should fight tooth and nail against it they should not have to suffer for crimes they did not commit this is obvious to me as should be obvious to you so why did the e.u. come up with such a foolish plan and what are its broader ramifications for the european and global economies let's ask richard wright esko senior fellow at the campaign for america's future...
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Mar 20, 2013
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we just hit the economy with a $1.6 trillion tax increase. the economy's not roaring right now. and what they're saying, let's o that all over again. we are saying fix the tax code, replace it with a pro-growth tax system that helps small businesses, that helps job creators, that helps families. get government spending's appetite under control. the government is supposed to be spending 5% on average for the next 10 years. that's too much. that's much more than what the family budget gets. we sebring it down to 3.-- we say bring it down to 3.4%. when we look at all the smoke and mirrors, all the claims, none of the democratic budgets that's being brought to the floor ever, ever balance the budget. how is that a balanced plan? balancing the budget is what every family does. balancing the budget is what every business does. balancing the budget is what every local government does. surely our federal government can do this, and one of the key ingredients to growing this economy, to making american businesses big and small competitive so they can create jobs and create take-home pay
we just hit the economy with a $1.6 trillion tax increase. the economy's not roaring right now. and what they're saying, let's o that all over again. we are saying fix the tax code, replace it with a pro-growth tax system that helps small businesses, that helps job creators, that helps families. get government spending's appetite under control. the government is supposed to be spending 5% on average for the next 10 years. that's too much. that's much more than what the family budget gets. we...
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Mar 19, 2013
03/13
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it also will help grow our economy, help create jobs. our plan is a plan to grow the economy. and what we are seeing on the other side from the senate by the democrat is a plan that's going to grow one thing, and that's the national debt. so at a time when many seniors are worried about their benefits, and we see many young people having trouble finding jobs after they graduate from college, ours is a plan that is going to give them the certainty and that is going to help them find those jobs because it's going to help grow the economy. what we need from the president and what we need from the senate democrats is a plan to join, to join us in this effort to -- that's going to help improve the lives of americans all across his country. >> a few c.p.a.'s in this town, you are going to be hard-pressed to find a bigger tax budget or economic geek than me. there's nothing i enjoy more than having a discussion about debt to equity ratios and 302-b allocations and the difference between getting to primary balance as opposed to actually alancing the budget. i have been told normal peo
it also will help grow our economy, help create jobs. our plan is a plan to grow the economy. and what we are seeing on the other side from the senate by the democrat is a plan that's going to grow one thing, and that's the national debt. so at a time when many seniors are worried about their benefits, and we see many young people having trouble finding jobs after they graduate from college, ours is a plan that is going to give them the certainty and that is going to help them find those jobs...
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Mar 15, 2013
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it's good to be the economy. it creates jobs. >> reporter: he said he supported the position of his predecessors in favor of a strong dollar policy on the issue of the budget, there's a big battle over sequestration. secretary lew said he thought he heard cooler heads prevailing and seemed somewhat optimistic that a deal could be reached that would end the automatic sequestration cuts. steve liesman in alpharetta, georgia. >>> meanwhile, timothy geithner will write a behind the scenes book on the financial crisis and how he and other officials debated and worked together. crown publishers commissioned the book and made the announcement today. the book is due out next year. no word on what crown is paying mr. geithner. >>> the second report card on the health of u.s. banks came out late today with mixed results. the federal reserve rejected the capital plans from bb&t bank and allied financial which was the only bank to fail the original test that came out last week. goldman sachs and jpmorgan got only conditional
it's good to be the economy. it creates jobs. >> reporter: he said he supported the position of his predecessors in favor of a strong dollar policy on the issue of the budget, there's a big battle over sequestration. secretary lew said he thought he heard cooler heads prevailing and seemed somewhat optimistic that a deal could be reached that would end the automatic sequestration cuts. steve liesman in alpharetta, georgia. >>> meanwhile, timothy geithner will write a behind the...
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Mar 20, 2013
03/13
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if there is a greater optimism about the economy? do you think that that's going to create anxiety, that the fed will start to scale back earlier than expected or is it a good thing when good news -- >> good news is not good news at the initial. there's too many people expecting that they will do nothing. you have to have it so the vast majority of people expect them to do something. >> it might create a sell-off in the market. >> they have to do it right. yeah, it could. >> could i add something. >> very quickly. >> at the end of the day the fed has to acknowledge the economy. it's good but not good enough. there's no way it's good enough for the fed to stop doing what it's doing. >> how good does the fed see the economy? let's find out right now. >> the federal reserve voting 11-1 to maintain its policy of purchasing $85 billion of mortgage-backed securities and treasuries monthly saying it will continue to make purchases until the labor market shows substantial improvement. that's pretty much exactly as written last time around. t
if there is a greater optimism about the economy? do you think that that's going to create anxiety, that the fed will start to scale back earlier than expected or is it a good thing when good news -- >> good news is not good news at the initial. there's too many people expecting that they will do nothing. you have to have it so the vast majority of people expect them to do something. >> it might create a sell-off in the market. >> they have to do it right. yeah, it could....
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Mar 16, 2013
03/13
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you say it's feeling like one america with two economies. the rich and then the rest struggling just to get by. poppy harlow introduces us to one woman who feels that way. >> reporter: for many americans who don't own stocks, the recent giddiness on wall street feels a little remote. >> the dow closed at record highs. are you feeling that? >> i wish i was. >> reporter: could you call single mom nicole lowling lucky to have a job in this economy but the reality is she's barely getting by and the stock market boom means nothing to her. is it frustrating to see the headlines? >> yes it does but what am i going to do? >> reporter: a mental health technician at the veterans administration, nicole and her teenaged daughter diamond are renting after losing their home to the bank. how hard is it to get by? >> exextremely hard. >> reporter: she's one of the 46% of americans who have zero stock investments and as the markets boom, the gap between them and the wealthy grows. >> when the stock market rises significantly, it increases the gap in wealth b
you say it's feeling like one america with two economies. the rich and then the rest struggling just to get by. poppy harlow introduces us to one woman who feels that way. >> reporter: for many americans who don't own stocks, the recent giddiness on wall street feels a little remote. >> the dow closed at record highs. are you feeling that? >> i wish i was. >> reporter: could you call single mom nicole lowling lucky to have a job in this economy but the reality is she's...
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Mar 20, 2013
03/13
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economy. the u.s. economy's crucial. in order for the world to grow. euro has to go so the economy has to continue in this trajectory of stable solid growth and bring down the rate of unemployment. >> rose: do you expect, has the president engage in a different kind of shall we say diplomacy with congress we'll more likely kind a bargain between the republicans and democrats on taxes and spending. >> that's always going to go down to the wire. i wouldn't expect anything before. the question there is whether the negotiates going down to the wire will spook the markets or not. the markets have been remarkably sillient. we went through a sequester deadline. the dow hits an all time high during this. >> rose: why was that? >> because i think the fed trumps everything. money cures all. >> it's all about the fed. i'm a skeptic on the grand bargain. i don't think there's a passing game here. there's going to be a ground game and it's going to be, we're going to go yard by yard and we may get little species of this but the idea everyone's going to come togethe
economy. the u.s. economy's crucial. in order for the world to grow. euro has to go so the economy has to continue in this trajectory of stable solid growth and bring down the rate of unemployment. >> rose: do you expect, has the president engage in a different kind of shall we say diplomacy with congress we'll more likely kind a bargain between the republicans and democrats on taxes and spending. >> that's always going to go down to the wire. i wouldn't expect anything before. the...
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Mar 16, 2013
03/13
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consumers are concerned about the national economy. they just took a hit in their paychecks as a result of the payroll tax hike, and then on top of that the higher gas prices are going to force them to make some decisions that they wouldn't otherwise have to make. so it's very concerning. >> reporter: pain at the pump is something that all americans can identify with. but many consumers say that they work their budgets around higher gas prices because commuting expenses are nonnegotiable. but how do the higher prices impact the rest of their spending remains to be seen. for "nightly business report," i'm jackie deangelis. >>> while energy prices creep higher, so does optimism about the recovery in the u.s. housing market. one of the nation's largest home builders say the fundamentals in the real estate turn around are strong, and that an increase in home prices is not a bad thing. >> what we're seeing is that prices are moving up, not because costs are moving up so much, but because demand is getting so strong, we're seeing some freein
consumers are concerned about the national economy. they just took a hit in their paychecks as a result of the payroll tax hike, and then on top of that the higher gas prices are going to force them to make some decisions that they wouldn't otherwise have to make. so it's very concerning. >> reporter: pain at the pump is something that all americans can identify with. but many consumers say that they work their budgets around higher gas prices because commuting expenses are nonnegotiable....
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Mar 21, 2013
03/13
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you've got the good economy. tremendous housing numbers, miraculous retail sales, terrific oil and gas markets. you have the bad economy. weakening commodity prices. slow commercial real estate business. really bad world commerce outlook. real soft information technology sales. you mix them all up together and you get the absolute perfect environment for the fed reserve to stay stock market friendly. that's exactly what happened today. ben bernanke allowed the averages to power higher. dow gained 56 points. the s&p rising today, nasdaq jumping .78%. it's not sleight of hand or alchemy at work here, despite what critics say when they constantly slam the fed. >> boo! >> bernanke is not playing a game of move the stock market higher by simply continuing to keep the competition from bonds incredibly weak. he's got a real good reason for doing what he's doing, which is staying the course, keeping rates low. that reason? 1937. see, ben bernanke is a rigorous guy. he's a professor and a genuine scholar of american finan
you've got the good economy. tremendous housing numbers, miraculous retail sales, terrific oil and gas markets. you have the bad economy. weakening commodity prices. slow commercial real estate business. really bad world commerce outlook. real soft information technology sales. you mix them all up together and you get the absolute perfect environment for the fed reserve to stay stock market friendly. that's exactly what happened today. ben bernanke allowed the averages to power higher. dow...
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economy as the world's largest economy sometime within the next four years it's now projected to overtake so i think i think whether or not they're able to get on the same blistering course that they were in the past i think the there is now such institutional investment in the in the economic infrastructure that's been created around china in the past few years that i think a lot of players at the table are really invested in the idea of china continuing to grow and we see this now with people scrutinizing the latest manufacturing data out of china very closely and if it was true in years past that if the u.s. needs the rest of the world caught a cold i think it's now becoming true in the chinese situation so i think there's going to be even if china is not able to maintain its blistering pace of growth it is still going to continue to grow because there's a lot of investment simply changing on that idea let's just talk about the military because despite the current slide than it has increased and actually spending by a double digit a man doesn't it say do you think it's time to set itse
economy as the world's largest economy sometime within the next four years it's now projected to overtake so i think i think whether or not they're able to get on the same blistering course that they were in the past i think the there is now such institutional investment in the in the economic infrastructure that's been created around china in the past few years that i think a lot of players at the table are really invested in the idea of china continuing to grow and we see this now with people...
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find out what's really happening to the global economy with mike's cars or for a no holds barred global financial headlines kaiser reports. more news today violence is once again fled the film these are the images the world has been seeing from the streets of canada. giant corporations are today. it's. it's. it's. elin .
find out what's really happening to the global economy with mike's cars or for a no holds barred global financial headlines kaiser reports. more news today violence is once again fled the film these are the images the world has been seeing from the streets of canada. giant corporations are today. it's. it's. it's. elin .